Cenovus Energy Inc (CVE) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. boosted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 105.6% during the first quarter, Holdings Channel reports. The firm owned 194,451 shares of the oil and gas company’s stock after buying an additional 99,852 shares during the period. Alliancebernstein L.P.’s holdings in Cenovus Energy were worth $2,197,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Airain ltd purchased a new position in shares of Cenovus Energy during the first quarter worth about $224,000. TradeLink Capital LLC purchased a new position in shares of Cenovus Energy during the first quarter worth about $497,000. British Columbia Investment Management Corp boosted its position in shares of Cenovus Energy by 23.7% in the first quarter. British Columbia Investment Management Corp now owns 157,700 shares of the oil and gas company’s stock worth $1,336,000 after buying an additional 30,200 shares during the period. Highstreet Asset Management Inc. boosted its position in shares of Cenovus Energy by 2.3% in the first quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock worth $399,000 after buying an additional 782 shares during the period. Finally, Lincluden Management Ltd. boosted its position in shares of Cenovus Energy by 44.3% in the fourth quarter. Lincluden Management Ltd. now owns 3,222,430 shares of the oil and gas company’s stock worth $48,668,000 after buying an additional 989,994 shares during the period. 56.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cenovus Energy Inc (CVE) opened at 7.32 on Monday. The company has a 50 day moving average of $8.48 and a 200 day moving average of $11.79. The company’s market cap is $6.10 billion. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Cenovus Energy had a negative net margin of 1.64% and a positive return on equity of 0.03%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business posted ($0.51) EPS. On average, analysts expect that Cenovus Energy Inc will post $0.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a dividend of $0.0371 per share. This represents a $0.15 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, June 13th. Cenovus Energy’s dividend payout ratio is currently -71.43%.
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CVE has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Friday, March 24th. Canaccord Genuity reissued a “hold” rating and issued a $16.50 price objective on shares of Cenovus Energy in a research note on Wednesday, April 26th. Macquarie raised shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 30th. Finally, ValuEngine cut shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.75.
About Cenovus Energy
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